While the White House and much of the media spun the hurried late-night move as a victory for the middle class, it was a win paid for with new tax cuts worth hundreds of billions of dollars for America’s wealthiest families.

“The ‘Fix the Debt’ CEOs are trying to pass themselves off as noble leaders who are willing to compromise in order the save America from financial ruin,” says report co-author Scott Klinger. “In reality, the campaign is a Trojan horse concealing massive corporate tax breaks that would make our debt situation much worse.”

IPS’s new Congressional Report Card for the 99% grades lawmakers with a grade “A+” through “F” on a series of bills that either “feather the nest of America’s most affluent” or “enhance economic opportunities of our 99 percent.”